Most real estate watchers won’t be surprised to learn that median home prices rose again in June. They did, according to data analyst CoreLogic. That makes 51 straight months the median price has climbed.

But some other key numbers behind that rise reveal as much or more about the health of the Inland housing market.

SALES ARE OFF

Newly built homes are a rarity these days. So are sales. In fact, in June the sales of such homes was 47 percent lower than the long-term June average.

CONTEXT

True, affordability is an issue in a region where the median income hasn’t been rising as quickly as median home prices.

But one must adjust for inflation, said CoreLogic analyst Andrew LePage. That leaves the purchaser of a median-priced home in June paying almost 19 percent less than the price paid in 2007, the peak year of the housing bubble.

MORTGAGE PAYMENT

The typical mortgage payment is not a median or average – it’s a payment based on monthly median prices, excluding taxes and insurance, and assumes a 20 percent down payment and a 30-year fixed-rate loan.

Join the conversation

We invite you to use our commenting platform to engage in insightful
conversations about issues in our community. Although we do not pre-screen comments,
we reserve the right at all times to remove any information or materials that are unlawful,
threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent
or otherwise objectionable to us, and to disclose any information necessary to satisfy the law,
regulation, or government request. We might permanently block any user who abuses these conditions.